Definition: Right of first refusal (ROFR) is a contractual right granted to one party to have the first opportunity to engage in a certain transaction. It allows this party to decide whether to enter the operat
Rights of first refusal are a common feature in many other fields, fromreal estateto sports and entertainment. For example, a publishing house may ask for the right of first refusal on future books by a new author. What Is the Meaning of Right of First Refusal? A right of first refusal ...
However, because the ROFO gives limited control to the rights holder in determining the final price or terms, it is often less advantageous than a right of first refusal. Right of First Offer: In Depth Most commonly, right of first offer is used in contracts within the real estate market ...
Xxxxx Development and its Affiliates), hereby grants Buyer a right of first refusal to purchase the Glendale Hotel (or the equity interests in the owner of the Glendale Hotel) at the same price, and upon the same terms, as any offer received by Seller or its Affiliate that Seller or its...
7.Counterparts. This Amendment may be executed in counterparts, each of which shall be binding upon any party executing the same and all of which together shall constitute one and the same document. 3 8.Defined Terms. All terms not otherwise defined herein shall have the same meaning as ascri...
Not so. The core holdings of Fletcher and Slack express a basic principle of judicial restraint and a refusal to interfere with a step in the legislative process. ¶ 18 Plaintiffs further argue that the Illinois Supreme Court has recognized an exception to the rule against enjoining a ...
The First-Tier Tribunal has made a number of decisions lately which have shown an appreciation of the reality of business life. In Enersys Holdings UK Ltd it was concluded that a Tribunal does have power to strike down a penalty if it is “not merely har
Believed to have been produced sometime around the turn of the 16th century in the Netherlands, this Gothic masterpiece is composed of seven murals depicting the men who seek to kill and extract a unicorn’s healing abilities… and the creature’s refusal to stay down. ...
"TheFirst Amendment has been twistedto the point thatfreedom of religionis in danger of becomingfreedom from religion." To understand the meaning of theFirst Amendment,it is necessary to knowwhat preceded it. Who proposedits wording,whodebated it,whopassed it,andwho rat...
refusal noun (n.) The act of refusing; denial of anything demanded, solicited, or offered for acceptance. noun (n.) The right of taking in preference to others; the choice of taking or refusing; option; as, to give one the refusal of a farm; to have the refusal of an employment. ...